Accel Wealth Management Buys New Stake in Boston Scientific Co. (NYSE:BSX)

Accel Wealth Management purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the first quarter, HoldingsChannel.com reports. The fund purchased 3,185 shares of the medical equipment provider’s stock, valued at approximately $218,000.

A number of other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in Boston Scientific by 14.6% in the third quarter. AQR Capital Management LLC now owns 537,152 shares of the medical equipment provider’s stock valued at $28,362,000 after purchasing an additional 68,478 shares in the last quarter. Truist Financial Corp grew its position in shares of Boston Scientific by 23.0% in the 3rd quarter. Truist Financial Corp now owns 263,479 shares of the medical equipment provider’s stock valued at $13,912,000 after buying an additional 49,323 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after acquiring an additional 1,123 shares in the last quarter. Axxcess Wealth Management LLC purchased a new stake in Boston Scientific in the third quarter valued at $201,000. Finally, Lido Advisors LLC boosted its stake in Boston Scientific by 38.2% in the third quarter. Lido Advisors LLC now owns 13,266 shares of the medical equipment provider’s stock valued at $700,000 after acquiring an additional 3,669 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Down 0.6 %

Shares of NYSE BSX opened at $76.11 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $111.66 billion, a PE ratio of 63.96, a P/E/G ratio of 2.62 and a beta of 0.78. The firm has a fifty day moving average of $75.28 and a 200-day moving average of $68.07. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $77.99.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. On average, analysts anticipate that Boston Scientific Co. will post 2.32 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on BSX shares. TD Cowen lifted their price target on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Evercore ISI increased their price target on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. The Goldman Sachs Group started coverage on shares of Boston Scientific in a research report on Thursday, May 30th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Citigroup boosted their target price on shares of Boston Scientific from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.41.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the sale, the executive vice president now directly owns 42,908 shares in the company, valued at $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the sale, the executive vice president now directly owns 42,908 shares in the company, valued at approximately $3,316,788.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,259 shares of company stock worth $5,344,014. Company insiders own 0.50% of the company’s stock.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.